Middle East Economic Survey
ExxonMobil Joins Petrobras Black Sea Project
ExxonMobil has acquired a 25% stake in Turkeys offshore Block 3922 (Sinop) in the Black Sea through a farm-in agreement with Brazils Petrobras. ExxonMobil, Petrobras and the Turkish Petroleum Corporation (TPAO) on 11 January signed a partnership agreement in Rio de Janeiro for exploration of the block. The deal gives ExxonMobil half of Petrobrass 50% stake, leaving TPAO with the remaining...